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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2012

Investment Securities [Abstract]

Summary of investment securities


(in thousands)		2012				2011
U.S. Treasury		$	2,030			$	2,054
Government sponsored enterprises			55,180				70,314
Asset-backed securities			107,872				107,329
Obligations of states and political subdivisions			35,164				34,109

Total available for sale securities		$	200,246			$	213,806

The amortized cost and fair value of debt securities


(in thousands)		Amortized cost				Gross unrealized gains				Gross unrealized losses				Fair value
December 31, 2012
U.S. Treasury		$	2,000			$	30			$	0			$	2,030
Government sponsored enterprises			54,327				853				0				55,180
Asset-backed securities			104,607				3,276				11				107,872
Obligations of states and political subdivisions			33,959				1,222				17				35,164

Total available for sale securities		$	194,893			$	5,381			$	28			$	200,246

Weighted average yield at end of period			2.54	%
December 31, 2011
U.S. Treasury		$	2,000			$	54			$	0			$	2,054
Government sponsored enterprises			69,703				629				18				70,314
Asset-backed securities			103,806				3,547				24				107,329
Obligations of states and political subdivisions			32,716				1,394				1				34,109

Total available for sale securities		$	208,225			$	5,624			$	43			$	213,806

Weighted average yield at end of period			2.89	%

Contractual maturity of amortized cost and fair value of debt securities


		Amortized				Fair
(in thousands)		cost				value
Due in one year or less		$	3,919			$	3,951
Due after one year through five years			63,985				65,154
Due after five years through ten years			20,478				21,340
Due after ten years			1,904				1,929

Total			90,286				92,374
Asset-backed securities			104,607				107,872

Total available for sale securities		$	194,893			$	200,246

Gross unrealized losses on debt securities and the fair value of the related securities


		Less than 12 months								12 months or more								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
(in thousands)		Value				Losses				Value				Losses				Value				Losses
At December 31, 2012
Government sponsored enterprises		$	1,044			$	0			$	0			$	0			$	1,044			$	0
Asset-backed securities			4,729				(11	)			0				0				4,729				(11	)
Obligations of states and political subdivisions			2,114				(17	)			150				0				2,264				(17	)

Total		$	7,887			$	(28	)		$	150			$	0			$	8,037			$	(28	)


(in thousands)
At December 31, 2011
Government sponsored enterprises		$	13,250			$	(18	)		$	0			$	0			$	13,250			$	(18	)
Asset-backed securities			4,591				(24	)			0				0				4,591				(24	)
Obligations of states and political subdivisions			229				(1	)			150				0				379				(1	)

Total		$	18,070			$	(43	)		$	150			$	0			$	18,220			$	(43	)

Available for sale securities proceeds and gross realized gain loss net


(in thousands)		2012				2011				2010
Proceeds from sales of available for sales securities		$	790			$	0			$	0

Gains realized on sales			26				0				0
Losses realized on sales			0				0				0
Other-than-temporary impairment recognized			0				0				0

Investment securities gains		$	26			$	0			$	0